Buyers investing in Gore - Stage 2 hits the market

21 February 2022

Property buyers throughout New Zealand are investing in Gore’s latest subdivision, Matai Ridge.

A joint venture between the Gore District Council and Wilson Contractors, Matai Ridge offers 36 west-facing sections in East Gore. The 15 sections in stage one were released just before Christmas and quickly sold out.

The remaining sections went on the market earlier this month and the strong demand has continued. To date, 11 of the 21 sections are under contract.

Gore District Chief Executive Stephen Parry said the release of stage two was brought forward to meet the demand experienced with stage one.

“We always suspected there was a significant shortage of good residential sections in Gore. The market response to Matai Ridge has confirmed that.”

The two highest price lots set a new benchmark of $225,000 each, Mr Parry said.

First National Gore business owner Graham Maxwell said buyers have been waiting for an opportunity to invest in the Gore market and build their dream homes.

Buyers from as far afield as Auckland, as well as locals, were snapping up sections.

“We are seen as an affordable place to invest with excellent growth in values.”

There has been demand across the entire price range of sections, from $129,00 to $225,000, he said.

“There’s still some great sections available.”

Wilson Contractors is due to start earthworks and drainage early next month. Mr Maxwell expected the construction of homes to begin around October/November this year.